Visa Inc. $V Shares Acquired by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lifted its position in shares of Visa Inc. (NYSE:V) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,806 shares of the credit-card processor’s stock after buying an additional 513 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Visa were worth $9,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new position in Visa in the first quarter valued at about $27,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the second quarter valued at about $28,000. Cranbrook Wealth Management LLC raised its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new position in Visa in the first quarter valued at about $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Down 0.2%

NYSE:V opened at $343.05 on Tuesday. The company has a market capitalization of $628.73 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. Visa Inc. has a one year low of $277.99 and a one year high of $375.51. The stock has a 50-day simple moving average of $343.79 and a 200 day simple moving average of $346.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on V shares. UBS Group reissued a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Barclays restated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $389.00.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.